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RE: Genesis mining day 46 - steady
Sorry to hear this :(, I've always been skeptical of genesis and other cloud mining. Do they offer an option to take your 10mhs on ethhash to an alt coin instead so you can play the "hope it goes to the moon" game?
Thanks for your support. In fact it is just a bad investment in a wrong time because difficulty has picked up. Even you invest your own rig, the result will be very similar especially people have to buy gpu at a premium price. Ya they would provide option to change to other alt coin, but like u said,
The issue that people don't take into account is that difficulty does go up over time. Hopefully you actually hit ROI before your contract is up. Also, I wouldn't rope gpu-mining yourself and cloud-contracts up together, with the exception of those who did pay a crazy premium for their GPUs, one of the larger differences between having a rig and cloud contracts is that you can ebay your parts to recover a large portion of what you put in (even now GPUs are still going for a premium (i.e. someone who bought in at MRSP [or newegg sale+rebate] can almost get ROI alone [or more] just by selling their rigs... I can tell you this because I've been waiting for them to come down haha).
Hey there same thought exactly. I have an article that try to predict the future difficulty and therefore the future profitability and you may want to check it out. But the conclusion is that this could turn to a bad investment. People are crazy buying rig with high premium and because it looks good in the paper couples month ago and i am too looking to buy only when it is back to normal price
Yes, soon, I saw some 1070s for some sane prices - I'm hoping that gpus will be cheaper than usual when people start dumping their rigs... though I would have expected it by now.
Yeah same strategy as you really. I am talking to some local dealer, apprently amd and nividia have also increased their retail price. A 6 card rig of p106 mining specific cards, providing around 150mh, would sell around 2500 usd. So for me, still not giving me much edge to buy esp we cant resell the card as they are mining specific.
With that said, I do hope it works out for you in the end - hopefully at least you get ROI + whatever you would have gotten if you locked up the same dollar amount in a CD.
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